The insurance industry could pay up to $1 billion in claims to people whose property was damaged by the earthquake that struck Washington State last week, according to the Insurance Information Institute. The I.I.I. noted that it is difficult to …
A Gardner, Mass. man pled guilty yesterday in federal court to insurance fraud charges. United States Attorney Donald K. Stern said that Darrin J. Stafford pled guilty before U.S. District Court Judge Nathaniel M. Gorton to multiple counts of mail …
Some Massachusetts Mutual Life Insurance Co. policyholders want to force the Springfield firm to follow in John Hancock’s footsteps and go public the Boston Herald reported today. “We just think it’s time the owners reclaim their rightful role as owners …
In an effort to assist insurers and departments of insurance, the National Association of Insurance Commissioners has undertaken the daunting task of compiling a directory of how departments of insurance across the country deal with, and investigate, fraud. Greg Sacco, …
LeasingDesk.com, the first company to offer online renter’s insurance policies through partnerships with apartment owners, has expanded its coverage area to 10 states and the District of Columbia, with 12 more states in the final approval process. The insurance offering …
Liberty Mutual Insurance Co.’s plan to demutualize came under political fire Wednesday, marking the second time politicians have taken issue with the restructuring plan. The Boston City Council voted Wednesday to schedule a public hearing on Liberty’s ownership proposal, just …
Jetzenia Ortiz, 24, of Worcester, Mass., was sentenced to 15 months in prison, $400,000 in restitution for embezzling that same amount from her employer, Unum Provident. Ortiz pleaded guilty to the charges, saying that between January and July of last …
Allmerica Financial Corp. expects fourth-quarter net operating earnings to be reduced by 29 cents per share due to catastrophic losses from winter storms. The company pointed out, however, it would recognize a tax benefit to offset the losses. The Worcester, …
Electric Insurance Company, a Massachusetts-based direct writer of automobile and homeowner’s insurance has unveiled its new online homeowner’s insurance quoting feature for 18 states. The new home quoting service joins the company’s online auto quoting service in place since 1996. …
An Atlanta-based insurance company has agreed to pay back $1 million to tens of thousands of Massachusetts consumers who were overcharged for credit insurance. According to a report issued by Georgia Attorney General Tom Reilly, Union Security Life Insurance Co. …
